Stock Market Rally: Investors' Wealth Jumps Over Rs 10.43 Lakh Crore In Last Five Days

The 30-share BSE Sensex has jumped 2,219.25 points or 3.85 per cent in the past five trading sessions

According to market analysts the benchmark indices have rallied aided by improved overseas fund inflows and positive global cues.

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Stock investors became richer by over Rs 10.43 lakh crore in the past five days, as markets continued their winning momentum helped by foreign fund inflows and stable global trends, reported by the PTI. The market capitalisation of BSE-listed firms have surged Rs 10,43,216.79 crore to Rs 2,62,37,776.13 crore in the past five trading sessions (March 29-April 6).

According to the report, the 30-share BSE Sensex has jumped 2,219.25 points or 3.85 per cent in the past five trading sessions.

This week, equity markets were closed on Tuesday (April 4) for "Mahavir Jayanti" and also on Friday on account of "Good Friday". Last week, stock markets were closed on Thursday for "Ram Navami".

According to market analysts the benchmark indices have rallied aided by improved overseas fund inflows and positive global cues. "The Indian equity market saw gains for the second week in a row after a protracted period of underperformance, thanks to stable global cues, FII buying amid valuation comfort, and signs of a worldwide peak in interest rates," said Santosh Meena, head of research, Swastika Investmart Ltd.

On Thursday, the BSE Sensex had climbed 143.66 points or 0.24 per cent to settle at 59,832.97 after the Reserve Bank of India (RBI) unexpectedly kept the benchmark rate unchanged.

Umesh Kumar Mehta, CIO of SAMCO MF, said the RBI in its act to maintain an equilibrium of growth and inflation has judiciously opted to keep the rates unchanged at 6.5 per cent, diverging from the Fed. "Equity markets had already started consolidating but now since the interest rates are also near the peak cycle, it is an ideal launching pad of a new bull market locally and globally," Mehta added. 

On Thursday, the S&P BSE Sensex swung 430 points during the day before closing at 59,833, up 144 points (0.24 per cent). On the other hand, NSE Nifty50, too, settled near 17,600-mark at 17,599, up 42 points (0.24 per cent).